Edit Income & Benefits

Give each recurring source its own timing and tax identity

Income & Benefits is for wages, pensions, bridge benefits, disability or survivor payments, deferred compensation, severance schedules, and other recurring amounts. Separate sources when their owner, tax treatment, start, end, or growth differs. A one-time gift or inheritance belongs in One-time Incoming Transfers instead.

Enter the gross annual amount unless the source document defines a tax-free benefit. Projection applies supported taxes and then uses the remaining household cash to fund spending and contributions.

Enter the amount that belongs at the modeled start

For income already being received, enter the current annual amount and choose Now or the applicable start date. For a future pension or benefit, enter the annual amount expected at its start date. Do not inflate a future quoted benefit manually and also add an annual growth rate unless the quote is explicitly stated in today’s dollars.

Owner controls whose retirement, Social Security, or Medicare milestone can trigger the stream. Provider or source is a descriptive reference that helps distinguish similar benefits; it does not change the calculation.

Use Disability benefit for SSDI, SSI, or a private disability payment when the source and tax treatment are known. Use Other benefit for received alimony or spousal support and other recurring receipts that do not have a narrower type. For a taxable one-time receipt such as lottery or gambling winnings, use Other benefit, enter the gross annual amount, keep Taxable on, and set the start and end within the same calendar year. That annual approximation does not calculate withholding, gambling-loss deductions, or specialized reporting.

Use the end rule that matches the benefit contract

An ongoing stream continues through the applicable household horizon. A specified date stops in its modeled annual period. Retirement, Social Security, and Medicare end rules use the selected owner’s saved milestone. These rules are especially important for temporary supplements and bridge payments.

Blank Annual growth rate uses scenario inflation. Zero keeps the amount fixed in nominal dollars. A custom percentage applies that annual growth. Turn ordinary-income taxation off only when the actual benefit is tax-free under its governing plan or policy.

Trace the stream through its first and last projection years

After saving, open Projection and inspect the years before the start, during payment, and after the end. Confirm the owner, gross amount, tax effect, and cash-flow destination. If the result does not match the source statement, correct the stream rather than adding an offsetting expense.

Social Security claiming information entered in Personal Details is modeled separately. Do not add the same Social Security benefit again as a general income stream.